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About Property Rates in Kolkata

A spike in property registrations and sales, following the announcement of twin sops for aspiring homebuyers in this year’s state budget, has led Kolkata-based developers to expect record sales in 2021. A whopping 39,832 property registrations had been completed in the City of Joy, Kolkata, between January and October this year. The figure is a little more than double of 19,876 of the corresponding phase last year.

What are Property Rates?

Property Rates is nothing but the rate at which the current market has valued a piece of land, real estate or any property that is tangible. This is the benchmark against which builders, lenders and actual home buyers and sellers’ price their own property and thereby negotiate the final price. In this context, what is under purview are the current property rates in the Kolkata Metropolitan Region.

Current Property Rate in Kolkata

The table below reflects the price per sq. ft. in some of the prominent locations in Kolkata.

Location Price Band % change in a year
Park Street Rs.12,000 – Rs.20,000 0%
Kankurgachi Rs.5,200 – Rs.8,500 -1%
Salt Lake Rs.4,800 – Rs.7,600 -2%
Bt Road Rs.3000 – Rs.4000 -1%
Jessore Road Rs.3,500 – Rs.5,300 -2%
Rajarhat Rs.3,500 – Rs.6,900 -5%
Ballygunge Rs.8,000 – Rs.19,000 0%
Behala Rs.3,200 – Rs.4,600 0%

Property Rates in Kolkata's New Town Area

Emerging as a major IT industrial hub, New Town experiences a high demand from millennials, especially IT professionals. This Kolkata locality is, hence, pegged at No. 1 for rental accommodations in Kolkata. One can mostly find a plethora of 1 BHK and 2 BHK flats in New Town, Kolkata. The rent is between Rs.8,000 and Rs.12,000 per month, and with a 3 BHK, it can go up to Rs.17,000 also.

Property Rates in Kolkata's EM Bypass

Investing in residential and commercial complexes on EM Bypass can result in a significant rental yield as well as attractive returns at the point of a future sale. Flats on EM Bypass that attract well-heeled city dwellers are available for about Rs.2.5 crore.

Property Rates in Kolkata's Garia-Patuli Area

The southern suburb of Garia-Patuli in Kolkata is well-connected to commercial centres in the city. The locality offers under-construction and ready-to-move-in homes. For those wondering what are property rates in this area are, it is Rs. 2,900-5,500 per square foot. The average price of 1 BHK, 2 BHK, and 3 BHK properties is Rs.17 lakh, Rs.34 lakh, and Rs.56 lakh, respectively.

Property Rates in Kolkata's Jadavpur Area

Jadavpur is yet another prominent locality in South Kolkata locality known for its proximity to Jadavpur University. Buying a property in Jadavpur would mean being close to areas, such as Jodhpur Park, Dhakuria, Gariahat, Garia, Tollygunge, and Bagha Jatin. The average prices for multi-story apartments here range between Rs.3,800 per sq. ft and Rs.6,550 per sq. ft.

What are the Current Price Rate of Property in Kolkata?

  • In Kolkata West, prices range between Rs.2,000 and Rs.3,000 sq. ft. for residential apartments.
  • Property rates in Kolkata Central come at a range of Rs.6,000 and Rs.8000 per sq. ft., especially in areas like Entally, Sealdah, and Park Street.
  • Property rates in Kolkata North, particularly near the airport or Bangur, are cheaper. For areas that have access to all kinds of amenities, the rates are between Rs.3,500 and Rs.7,800 per sq. ft.
  • Property rates in Kolkata East range from Rs.3,000 per sq. ft. to Rs.7,000 sq. ft. Residential lands in locations, such as Action Area II, come at about Rs.35,600 sq. ft.

One can finance their dream home or meet sky-high commercial property rates with a property loan from Bajaj Housing Finance. The perks are quick disbursals, hassle-free loan processing, flexible tenors, and doorstep services.